The Cleveland Cavaliers have acquired New York Knicks guards J.R. Smith and Iman Shumpert in a multi-team trade that also sends guard Dion Waiters to the Oklahoma City Thunder, league sources told Yahoo Sports.
Oklahoma City gives the Cavaliers a protected future first-round draft pick and sends guard Lance Thomas to the Knicks, league sources said. As part of the trade, the Cavaliers sent rookie center Alex Kirk, forward Lou Amundson and a 2019 second-round pick to the Knicks, sources said.
The Thunder's pick to Cleveland is protected through No. 18 in 2015 and through No. 15 in 2016 and '17. Beyond that, it becomes two second-round picks.
For New York, the deal is a salary dump to clear cap space. The Knicks unload the $6.4 million owed to Smith next season, giving them approximately $28 million in salary-cap space this summer.
In the Cavaliers' search for a rim protector, they continue to pursue center Timofy Mozgov, but Denver remains reluctant to deal him, league sources told Yahoo.
The trade was finalized late Monday after the Cavaliers' and Knicks' games.
The Knicks also will waive center Samuel Dalembert, a league source said. His contract would've become fully guaranteed for the season if he remained on the roster through Wednesday.
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